Packaging plays a
significant role in every manufacturing process. Manufacturers and
packers are paying noteworthy attention to packaging for ensuring
product safety, ease in supply chain, promoting sales, and increasing
consumer convenience. Hence, Packaging
Coatings
plays a major role in improving the packaging process with a view to
attain the above mentioned attributes. Packaging coating not only
helps enhance the packaging process by providing additional
protection, corrosion resistance, and numerous chemical attributes,
but also helps in improving the overall aesthetic characteristics of
the packaging form. The growing application areas of packaging are
estimated to benefit the global packaging coatings market.Changing
lifestyle and food habits are estimated to be the major reasons for
the rise of the food and beverages sector, which is a major
application segment for the global packaging coating market. Rise in
consumption and manufacturing of PET bottles is also estimated to be
a major growth contributor for the global packaging coating market.
The global packaging
coatings market is primarily driven by the growth witnessed in the
packaging industry. Global, the packaging industry is estimated to
expand at CAGR of 4% over the forecast period. The growing scope of
packaging in various products, especially in consumer goods and food
and beverages industry, is estimated to further drive growth of the
globally packaging coatings market in the coming years. The
increasing need for maintaining original quality and taste and
keeping a check on contamination are pushing manufacturers to use
packaging coatings, especially in the food and beverages market. On
the other hand, stringent government laws and regulations, especially
in terms of food and beverages packaging, is expected to restrain
growth of the global packaging coatings market in the coming years.
Besides, increasing concern and awareness regarding the side effects
of chemicals used in coatings of cans and bottles among both,
manufacturers and end users, is anticipated to further restrain
growth of the global packaging coatings market in the coming years.
Growth opportunity
for players operating in the global packaging coatings market lies in
the usage of environmentally safe and organic materials, which could
be reuse and recycled, in the production of packaging products.
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The global packaging
coatings market is segmented on the basis of packaging type, resin
type, end use sector, and regions. On the basis of packaging type,
the global packaging coatings market is segmented into rigid
packaging coatings and flexible packaging coatings. On the basis of
resin type, the global packaging coatings market is segmented into
Epoxy, Acrylic, Phenolic, Amino, Vinyl, Polyurethane, Polyester, and
others. On the basis of substrate type, the global packaging
coatings market is segmented into glass, metal (cans, containers, and
sheets), plastic (PET bottles, jars, and others), and paper. On the
basis of end use sector, the global packaging coatings market is
segmented into food and beverage sector, cosmetics and
pharmaceuticals, industrial goods, and others.
On the basis of
geography, the global packaging coatings market is segmented into
North America, Europe, Asia Pacific (APAC), the Middle East and
Africa (MEA), and Latin America. North America is anticipated to be
the largest market for global packaging coatings due to rise in food
packaging practices, especially in the can segment in the region.
Asia is anticipated to contribute significantly towards growth of the
global packaging coatings market in the coming years, due to the
increasing demand for packaging coatings in the packaged food and
consumer goods segments in the region. Latin America is estimated to
be the leading consumer of packaging coatings after Asia Pacific. The
Latin America market is expected to be followed by the Europe market.
The Middle East and Africa market is estimated to exhibit sluggish
growth in the global packaging coatings market.
Some of the Major
Players in the global packaging
coatings market are PPG Industries, Inc., The Valspar Corporation. ,
Akzo Nobel N.V., Allnex Belgium SA/NV, Wacker Chemie AG, BASF SE,
ARKEMA GROUP, Axalta Coating Systems, LLC, W. R. Grace and Company,
The Dow Chemical Company, Mantrose-Haeuser Co., Inc., and Sun Coating
Company.
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